Numbers not just because christmas is around the. Country. The United States and china have announced a major fall in their trade war and as one might have expected from u. S. President trump it had to be a quote very large phase one deal with china that washingtons hugo she asians have intensified ahead of planned new terrorist due to take effect on sunday now it looks like theyve been avoided shoppers in the u. S. Can afford to have a spring in their step new tariffs on chinese goods were likely to hike the prices of things like toys smartphones and games console just ahead of christmas but now those tariffs are out of the picture. President trump tweeted to announce a very large phase one deal of been reached with china with the chinese agreeing to buy a range of American Goods he said that as a result the penalty tariff set her december 15th would no longer go ahead. The chinese also confirmed that a deal had been reached she wants after the signing of the agreement it is our hope
Exchange welcome to cramerica other people want to make friends, im just trying to make you some money my job is not just to entertain but teach and coach you. Call me or tweet me jimcramer how the heck are we supposed to figure out what is going on when the president of the United States starts bad mouthing china when his hand picked team of the negotiators is set to have a state dinner with chinese counter parts . These trade talks are so important, no wonder the market is confused. Down hard on trumps tweets or betting on the hope the Federal Reserve will bail us out with a rate cut tomorrow afternoon that we certainly need. Thats why the dow closed down 23 points, s p dipped 2. 6 and nasdaq lost 2. 4 maybe the president , maybe its not a brilliant plan here. I can see where hes coming from man, it does not inspire confidence about these trade talks when you tweet stuff like my team is negotiating with the now but they always change the deal in the end to their benefit. They should
The nikkei was off by. 10. Hang seng managed to edge higher by 1 3 of a percent. Shanghai comp down. 4 of a percent. Over in europe, take a check there. We have red arrows aside from italy which is managing a. 6 percent of a gain. The dax is down by half a percent. As for treasury yields, it seems to be in focus it has been in focus as we are waiting. Fed chair jay powell might say about a potential rate cut in july the twoyear now 1. 925 . Quite a steep rise considering that the recent low is 1. 696 . 195 on a close. Amazing yields. Obviously stretched lower in trade news, top u. S. Officials, talks back on the hill the first high level talks with the chinese counterparts yesterday. They continue to try to work out a trade deal people close to the conversation say both sides are going to continue talking but that existing tariffs could be, in their words, the new normal. Netflix is losing another high profile tv property next year friends is moving to warner streaming service hbo max.
Conagra, just like General Mills yesterday, down 8. 6 for one of the worst performances today. Down today. That is being acquired. Coming up later this hour, i will speak to atlantic investment president and cio. We will have the value versus growth rotation discussion. Guy absolutely. Looking forward to that one. European stocks just in positive territory. They sold off midmorning and have been climbing back ever since. The pound has spent most of the day positive, but has since sold off. Boris johnson was saying it was a million to one shot that we get a hard brexit. We continue to see a bid on the bow and. We are not quite at record lows or record highs on prices, but we are awfully close. Vonnie i will tell you where we are awfully close, and that is in tokyo. G20 leaders meeting this weekend with investors watching for the outcomes of bilateral discussions on the sidelines of the event, in particular between President Trump and president xi , which takes place saturday morning. We
And all the input your b w story. Now, on to the, [000 00 00;00] the russia home to the worlds biggest natural gas reserves. The gas is needed, especially in europe. And to the end of the cold war, ushered in an era of Conflicting Energy dependencies and concerns. In the west. Youre giving the soviet union the heart currency and theyre using that to build up their military. And this is going to come back to haunt. Meanwhile, the 1980s, march, the beginning of one mans extraordinary career. As a case of this stuff, you have to be able to manipulate people because it has no such a single stomach. You should be good. Gas is one of his 2 main tools for coersion, for leverage for influence. Soviet traditions continue golf oil and gas dependencies as a political weapon was par for the course, and the warsaw pact company, one of the worlds most powerful men, history teacher, equally wielded. Whats probably his most effective weapon. With the help of gas problem, Vladimir Putin has implemented